Frequently asked questions on loans powered by Remita
This article explains how Remita Direct Debit works, who can use it, its limitations, and how lenders can leverage it to improve repayment consistency.
What to do when you cannot repay your loan on time
Missing a loan repayment deadline can be stressful, but how you respond matters more than the setback itself. The best first step is to contact your lender early, explain your situation, and explore available options such as extensions, restructuring, or revised payment plans. Ignoring the issue can lead to added fees, damaged credit history, or aggressive recovery actions. By acting quickly and communicating honestly, borrowers can often reduce the impact and work toward a manageable solution.
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